Key Considerations for Asset and Debt Division in Oklahoma Divorces
A lot of people ask me, what does the judge look for in determining asset and debt division? Oklahoma is what we call a fair and equitable state. What that means is that the judge is to make a determination or the parties are to make a determination as to who’s responsible for paying what. 95% of the time, this equates to a 50-50 split in property division and debt division.
Sometimes these can offset each other. So if one party takes more debt, then they may get credit for additional property division to offset that debt. So it’s important for you to make sure that you have the most accurate and detailed information in order to assist your attorney in prepping for this division.
Factors Considered by the Court
When determining asset and debt division, the court will consider various factors such as the length of the marriage, the earning capacity of each spouse, the contributions made by each party to the marriage, and any prenuptial agreements that may be in place. It’s important to present a clear and organized picture of your financial situation to the court.
Consult with an Experienced Attorney
If you are going through a divorce and need assistance with asset and debt division in Oklahoma, don’t hesitate to consult with an experienced fathers right divorce attorney. A knowledgeable Tulsa family law lawyer can help you navigate the legal process and ensure that your rights are protected. Contact Dads.Law today at 918-986-7724 for a low-cost initial strategy session.
